The Tinubu Media Volunteers (TMV) has hailed the disbursement of N128 billion mortgage fund to 1,859 Nigerian families by the Ministry of Finance Incorporated Real Estate Investment Fund (MRIEF), describing it as a major boost to the Federal Government’s housing agenda.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the group said the intervention reflects progress under President Bola Tinubu’s housing reforms, particularly efforts aimed at expanding access to affordable long-term mortgage financing.
According to the group, the beneficiaries are drawn from 25 states across the federation and all six geopolitical zones, with access to mortgage facilities structured with a 20-year repayment period, a fixed interest rate of 9.75 percent per annum, and a minimum equity contribution of 10 percent.
TMV said the initiative addresses one of Nigeria’s long-standing housing challenges by improving access to homeownership finance, which it noted has remained a major barrier for many citizens over the years.
The group further stated that the mortgage scheme complements ongoing government interventions, including the Renewed Hope Cities and Estate Programme under President Tinubu’s administration, as well as other housing finance initiatives being implemented through relevant federal agencies.
It added that the development reflects a growing commitment by government institutions to bridge Nigeria’s housing deficit through expanded financing options and public-private collaboration in the real estate sector.
The MRIEF fund is expected to continue disbursements as part of broader efforts to scale up affordable housing delivery nationwide.
